Strong growth in client business fuels NIBC 2015 net profit to EUR 71 million

Press Release -
  • Increased net credit lending of close to EUR 1 billion provided to clients in 2015
    • Corporate loan book grew EUR 450 million to EUR 9.2 billion from EUR 8.8 billion; an increase of 5%;
    • Mortgage portfolio increased EUR 500 million to EUR 8.6 billion from EUR 8.1 billion; an increase of 6.5%.
  • Net profit improved to EUR 71 million in 2015 from EUR 42 million (before special items); an increase of 69%
    • Strong Net Interest Income up by 16% to EUR 286 million from EUR 247 million in the previous year;
    • Fee income increased to EUR 36 million in 2015 from EUR 27 million; an increase of 33%.
  • Solid capital position
    • Common Equity Tier-1 of 15.6% (2014: 15.5%)
    • Leverage ratio 7.2% in 2015

Statement of the CEO, Paulus de Wilt:
“In 2015, NIBC has provided almost EUR 1 billion additional net credit lending to midsized corporate and retail clients as in the previous year. Proof that our ‘Think Yes’-mentality is valued by our clients. This is also evidenced by the net promotor score of +40%. Corporate clients rewarded us for our in-depth knowledge, our professionalism and agility. This mentality was well represented in our ‘Think YES’-campaign which aired in June and September last year, of being the bank for entrepreneurial people. Our retail clients gave NIBC a 7.7 in the customer survey score, which is 0.2 higher than in 2014.

In our corporate banking activities, we were able to provide medium sized Dutch and German companies with around EUR 450 million of additional new credits, due to strong origination amounting to EUR 2.9 billion and after repayments and prepayments. We were able to balance our origination efforts to more favourable sectors, effectively reacting to shifts in economic environment. At the same time, we actively managed our relationship with clients in sectors that became relatively under pressure.

Our consumer bank continued to grow in the challenging economic environment of low interest rates. It is proof that the strategy of offering complete products against a fair price is working. NIBC Direct was awarded the ‘Website of the year’ by the Dutch Marketing Authority. Our buy-to-let product ‘vastgoedhypotheek’ has experienced a first year in existence that exceeded expectations. Our mortgage portfolio increased with more than EUR 500 million to EUR 8.6 billion on the back of EUR 1.3 billion new production more than compensating repayments. Retail savings increased in 2015 by 12% from EUR 9.0 billion to EUR 10.0 billion.

In 2016, clients can expect even more inventive, tailor-made financing solutions from NIBC as a result of an expanded product suite. In Q2, we expect to close the SNS Securities acquisition. With this transaction we expand our client offering from corporate banking to financial markets. Furthermore, we were co-founder of a new equipment leasing company and as a strategic partner we will also be a major funding provider. Through this investment we are broadening our scope into smaller ticket financing and will offer our clients the possibility to lease their assets. After a start up period, the new leasing activities will be launched in the spring of 2016.

We are confident that these unique activities will contribute to the growth of NIBC on the mid-term, as it is an answer to the diverse needs we have identified with our clients. We are looking forward to working closely with our clients in 2016 and beyond, as we continue to build, with confidence, the NIBC we aspire to be: professional, entrepreneurial and inventive.”

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